HC Wainwright Reiterates "Buy" Rating for Anixa Biosciences (NASDAQ:ANIX)

Key Points

• HC Wainwright has reiterated a "Buy" rating for Anixa Biosciences with a price target of $7.00, indicating a potential upside of 131.79% from its current price.
• Other analysts have also expressed positive sentiments, with D. Boral Capital setting a target of $10.00 and an average consensus target price of $9.00 among research analysts.
• Anixa Biosciences recently reported earnings of ($0.07) per share, beating the consensus estimate and reflecting growing interest from institutional investors who own 29.13% of the company's shares.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report)'s stock had its "buy" rating reissued by research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $7.00 price target on the stock. HC Wainwright's target price would indicate a potential upside of 131.79% from the company's current price.

Other analysts also recently issued research reports about the company. D. Boral Capital reiterated a "buy" rating and set a $10.00 price target on shares of Anixa Biosciences in a research note on Tuesday. Wall Street Zen upgraded Anixa Biosciences from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Anixa Biosciences currently has an average rating of "Buy" and a consensus target price of $9.00.

Anixa Biosciences Price Performance

Shares of ANIX stock opened at $3.02 on Thursday. The stock's fifty day moving average price is $3.11 and its 200 day moving average price is $2.97. Anixa Biosciences has a 1-year low of $2.07 and a 1-year high of $4.20. The company has a market cap of $97.27 million, a price-to-earnings ratio of -7.95 and a beta of 0.58.

Anixa Biosciences (NASDAQ:ANIX - Get Free Report) last posted its quarterly earnings results on Friday, September 12th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. As a group, equities research analysts anticipate that Anixa Biosciences will post -0.41 earnings per share for the current year.

Insider Transactions at Anixa Biosciences

In other Anixa Biosciences news, Director Lewis H. Titterton, Jr. acquired 10,000 shares of the company's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $3.08 per share, with a total value of $30,800.00. Following the completion of the acquisition, the director owned 953,334 shares in the company, valued at approximately $2,936,268.72. This trade represents a 1.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 35,000 shares of company stock worth $110,700 in the last quarter. Corporate insiders own 25.30% of the company's stock.

Hedge Funds Weigh In On Anixa Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Benjamin Edwards Inc. purchased a new position in shares of Anixa Biosciences in the second quarter valued at approximately $37,000. Jane Street Group LLC lifted its position in shares of Anixa Biosciences by 37.2% in the second quarter. Jane Street Group LLC now owns 41,800 shares of the company's stock valued at $138,000 after acquiring an additional 11,340 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Anixa Biosciences in the second quarter valued at approximately $33,000. Marshall Wace LLP purchased a new position in Anixa Biosciences during the second quarter worth approximately $39,000. Finally, Private Advisor Group LLC purchased a new position in Anixa Biosciences during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 29.13% of the company's stock.

About Anixa Biosciences

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.

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